British Columbia · CCAA
Second Report of the Monitor dated Nov. 26, 2020
Court officer report · 26 November 2020
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Closing cash position for 7-week period ended November 20, 2020 · as at: 2020-11-20 · amount: 1614000 · currency: CAD
- disbursementsnote: Total actual disbursements for the 7-week period ended November 20, 2020 · since: October 5, 2020 · amount: 438000 · currency: CAD
- operational summarySunniva Canada has no active operations and minimal staff (one employee, Dr. Holler), and is focused on the Claims Process, pursuing a capital raise to fund arbitration over the California Greenhouse Lease, and disposing of residual OK Falls Property assets.
- professional feesnote: Budgeted $200,000 vs actual $250,000, $50,000 over budget mainly due to PTI Claim and Intercompany Claims adjudication effort · party: Restructuring professionals (Monitor, counsel, Petitioners' counsel) · amount: 250000 · period: 7-week period ended November 20, 2020 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Subject to finalization of the Claims Process, this preliminary indicative analysis indicates that realizations for the largest group of creditors (Sunniva's) would range from 2.34% to 2.45% if the funds currently held were distributed. · pct of: unstated · outcome: distribution · pct low: 2.34 · pct high: 2.45 · class key: unsecured · stated by: monitor · class label: Sunniva claims · interim final: unstated · related party: false · conditional on: Subject to finalization of the Claims Process; if the funds currently held were distributed · claims qualifier: unstated · table missing:
- report date26 November 2020
- report noSecond Report